CEO Clay Wilkes discusses fraud detection and prevention tools to cut fraud losses
The payments ecosystem is heavily impacted by the $22.8 billion in card fraud losses happening worldwide. Card issuers and fintechs alike struggle to protect themselves, their portfolios and their customers against card fraud, resulting in massive revenue loss. Payments companies need to integrate fraud detection programs that adapt to the ever-changing face of fraud, regulations and compliance requirements in order to protect their card programs. Galileo’s founder and CEO, Clay Wilkes, digs into the top challenges of fraud and shares his perspective on fraud detection and mitigation tools, like Galileo’s Dynamic Fraud Engine and Fraud Artificial Intelligence (Fraud AI), to combat global card fraud losses.